SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go said the measure aims to meet the country’s growing social housing demands, particularly among underprivileged and homeless citizens.
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation., This news data comes from:http://pfsy-mm-ek-su.yamato-syokunin.com
The accompanying explanatory statement said the measure “allows local governments to levy a half-percent socialized housing tax on urban land values, with proceeds dedicated to socialized housing and public rental projects.”
”In addition, the bill introduces securitization mechanisms to raise more housing funds through bonds and securities exempted from usual taxes and registration requirements. Private developers will also be incentivized to participate in socialized and low-cost housing projects, with such participation counted toward compliance with balanced housing laws,” it added.
Go files housing development bill
- Puno seeks probe of anomalous projects ‘funders’
- Discaya says her family owns nine companies
- Japan accelerates missile deployment amid rising regional tensions
- Malacañang calls plot to jail VP Duterte 'wild imagination'
- Malabon City honors partners
- One in four people lack access to safe drinking water – UN
- UN force in Lebanon slams Israeli drone attack on peacekeepers
- SC clarifies rules on land ownership
- Chinese warships shadow Philippine, Australian, Canadian drills in Zambales
- 4 policemen linked to sabungero case slapped with more administrative cases
